Nesma & Partners’ backlog worth SAR 25B: CEO

Nesma & Partners Contracting Co. Ltd.’s current backlog stands at around SAR 25 billion, which has grown significantly over the past two years and contributed to doubling the number of manpower and resources, CEO Samer Abdul Samad told Argaam in an interview on the sidelines of the PIF Private Sector Forum.

The company operates in three business lines: oil, gas, and renewable energy; infrastructure; and building construction, Abdul Samad explained.

He went on to say that Nesma & Partners makes a significant contribution to achieving the Kingdom's Vision 2030 projects, noting that the business model has evolved as partnerships with contracting companies have become essential for future project development.

Nesma & Partners is deeply engaged with Saudi Aramco in the energy sector, in addition to its infrastructure partnerships with the NEOM project, Diriyah, the Red Sea, King Salman Park, and the Royal Saudi Air Force, the CEO noted.

Abdul Samad further explained that the financial sector is a main player in financing construction companies, indicating that the increase in interest rates will lead to repercussions such as delaying the delivery of projects, pricing challenges, and difficulties in meeting clients' requirements, particularly since the market is highly competitive.

The challenges also include the increase in diesel prices and attracting the right potential talent, he added.

The contracting company’s CEO highlighted the company’s participation in the Future Minerals Forum (FMF) to contribute to supporting and developing the mining sector in the Kingdom, noting that it had previously worked with Ma'aden and the private sector in this field.

Nesma & Partners was established in 1981 and is owned by four shareholders: Nesma Contracting Limited, Alturki Holding, Rawabi Holding, and the Public Investment Fund (PIF), Abdul Samad said.